Chicago soybean futures hit their highest since June 2018 on Chinese demand, while corn traded near its highest since mid-March on Chinese crop losses. China stepped up U.S. soybean purchases, with USDA confirming 327,000 tonnes in sales.
Chinese import demand for soybeans and corn is tightening global balance sheets and pushing prices higher, with China expected to import more corn after domestic losses.
After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 206 past neutral trade events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.6%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.